- (a) The PHA may not pledge, mortgage, enter into a transaction that provides recourse to public housing assets, or otherwise grant a security interest in any public housing project, portion thereof, or other property of the PHA without the written approval of HUD.
- (b) The PHA shall submit the request in the form and manner prescribed by HUD.
(c) HUD shall consider:
- (1) The ability of the PHA to complete the financing, the improvements, and repay the financing;
- (2) The reasonableness of the provisions in the proposal; or
- (3) Any other factors HUD deems appropriate.